Condensed and Curated.

Verizon Acquires Yahoo for $5 billion In Order to Compete with Google and Facebook.

In another move to become a major player in the Internet battleground dominated by companies like Google and Facebook, Verizon has acquired Yahoo for nearly $5 billion USD.

Yahoo had acquired the blogging platform Tumblr in 2013 for $1.1 billion USD, but despite the acquisition posted a net loss of $4.4 billion USD last year.

With this deal, valued at $4.83 billion USD, Yahoo will be added to Verizon’s growing roster of Internet companies that already includes AOL, which Verizon bought in 2015 for $4.4 billion, and Huffington Post.

The end goal of Verizon’s acquisitions it to compete for users, Yahoo claiming to service up to a billion every single month, and enter the Internet advertising market alongside Google and Facebook.